Kolkata-based alloy steel maker Adhunik Metaliks has posted flat net profit of Rs 21.90 crore, for the last quarter of FY 2007-08, compared to Rs 21.58 crore during the same period previous fiscal.      

The company’s net sales for the quarter surged 66% at Rs 311.92 crore compared to Rs 188.03 crore in the same period of the previous corresponding quarter.  

For the full year, net profit rose 3.85% to Rs 80.45 crore in the year ended March 2008 as against Rs 77.47 crore during the previous year ended March 2007.

In a separate release, the company has informed that its board has approved initial public offer of Orissa Manganese & Minerals, a 100% subsidiary of Adhunik Metaliks.

The board of directors has also declared a dividend of 12% for the financial year ended March 2008.